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Whole Foods To Open New Chain of Lower Priced Stores


I love me some Whole Foods, but shopping there has always been a treat to me, because they were so dang gone expensive.. But now they are planning to open a new chain of stores with lower prices!

The new stores will cater to a younger generation of shoppers who are still interested in organic and natural foods but want a different shopping experience, executives said.

The company made the announcement Wednesday as part of its second quarter earnings release. Whole Foods shares are down nearly 10% in afternoon trading after its earnings missed analyst expectations.

Whole Foods, known for its organic, natural food selection, clean stores and large displays of bright, fresh produce, has been losing traction recently as organic and fresh foods have become more popular at mainstream grocery chains.

The company also early on earned the nickname “Whole Paycheck” for how expensive it can be to shop there. The new format will help broaden Whole Foods’ appeal and diversify its brand, pulling younger shoppers in particular who are attracted to Whole Foods’ social and ethical ethos but turned off by the high prices

Source: USA Today

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